Saudi Business Sector Responds to Govt Call to Tighten Preventive Measures

Saudi Arabia stresses the implementation of the precautionary measures in the public and private sectors (Photo: Asharq Al-Awsat).
Saudi Arabia stresses the implementation of the precautionary measures in the public and private sectors (Photo: Asharq Al-Awsat).
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Saudi Business Sector Responds to Govt Call to Tighten Preventive Measures

Saudi Arabia stresses the implementation of the precautionary measures in the public and private sectors (Photo: Asharq Al-Awsat).
Saudi Arabia stresses the implementation of the precautionary measures in the public and private sectors (Photo: Asharq Al-Awsat).

The remote work system implemented by Saudi Arabia when the outbreak of the Covid-19 was first reported has succeeded in achieving productive targets during the first wave of the virus and contributed to generating jobs and work opportunities in small cities and governorates, experts told Asharq Al-Awsat.

This comes as the Saudi Ministry of Human Resources and Social Development has recently called on workers in the public and private sectors to adhere to precautionary and preventive measures, and to abide by health instructions and physical distancing at workplaces, in addition to resorting to remote work as much as possible, with the importance of applying a flexible working-hour policy.

Last year, the ministry launched the second phase of the “remote work” program, which includes the launch of an electronic portal to provide job offers and other services, such as tracking and following up on employees’ performance.

The ministry explained that the launch of the second phase comes after setting the controls and standards that govern the work environment, to ensure that the time and quality of the output is not affected, as well as guaranteeing the productivity and discipline of the employees included in the program.

In this regard, expert on public policies and international cooperation, Dr. Akram Jadawi, told Asharq Al-Awsat that the ministry’s decision to invite all sectors to implement the remote work program and to adopt flexible work policies came in a timely manner, especially as some parties were quick to resort to the system and reduce the number of employees in workplaces.

The remote work system has proven its effectiveness in raising productivity whenever the appropriate conditions are present, Jadawi said.

Member of the Board of Directors of the Saudi Society for Human Resources, Bader Al-Enezi, told Asharq Al-Awsat that the public and private sectors, with their profit and non-profit branches, have gained experience in dealing with the remote work system after recognizing the risks of the pandemic.

He emphasized that several countries were working on equipping the technical infrastructure to ensure the continuity of the economy and workflow in light of the current crisis, adding that the Saudi sectors were able to keep pace with the rapid changes in the business model.



Gold Firms; Focus on US Data for Cues on Fed's Policy Path

FILE PHOTO: A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade//File Photo
FILE PHOTO: A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade//File Photo
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Gold Firms; Focus on US Data for Cues on Fed's Policy Path

FILE PHOTO: A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade//File Photo
FILE PHOTO: A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade//File Photo

Gold prices hovered near a four-week peak on Thursday, while focus shifted to jobs report due on Friday for clarity on the Federal Reserve's 2025 interest rate path.
Spot gold edged 0.1% higher to $2,664.30 per ounce, as of 0732 GMT. US gold futures rose 0.4% to $2,681.80
"Prices are trading in a narrow range ... A new trigger is needed for gold to breach its resistance," said Ajay Kedia, director at Kedia Commodities in Mumbai.
The bullion hit a near four-week high in the previous session after a weaker-than-expected US private employment report hinted that the Fed may be less cautious about easing rates this year.
The market now awaits US jobs report on Friday for more cues on the Fed's policy path.
Investors are also awaiting Donald Trump to take office on Jan. 20 and his proposed tariffs and protectionist policies are expected to fuel inflation.
Policymakers at the Fed's last meeting also "noted that recent higher-than-expected readings on inflation, and the effects of potential changes in trade and immigration policy, suggested that the process could take longer than previously anticipated," the minutes showed on Wednesday.
Bullion is considered an inflationary hedge, but high rates reduce the non-yielding asset's allure.
"We believe the bulk of the rally has been put in and that while gold's upward momentum may carry it higher in the near term and in early 2025, a combination of physical and financial market factors may tame the rally and drive gold moderately lower by the end of next year," HSBC said in a note.
Elsewhere, physically-backed gold exchange-traded funds (ETFs) registered their first inflow in four years, the World Gold Council said.
Spot silver added 0.2% to $30.17 per ounce, platinum dropped 0.3% to $952.54 and palladium shed 0.8% to $921.37.